What Is Cash-on-Cash Return?

Answer

Cash-on-cash return is the annual pre-tax cash distributed to an investor divided by the cash they invested, shown as a percent. If you invest $100,000 and receive $7,000 of distributions in a year, your cash-on-cash return is 7%.

Unlike the cap rate, cash-on-cash return reflects leverage — it measures the cash yield on your actual equity after debt service. It captures current income only, not appreciation or proceeds at sale, so investors pair it with the internal rate of return and equity multiple for the full picture.

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